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Category: International

International News Oil

Afreximbank Launches $3 Billion Revolving Fund to Boost Africa’s Oil Refining Capacity

Afreximbank has launched a $3 billion Revolving Intra-African Oil Trade Financing Programme to address Africa’s heavy reliance on imported refined petroleum, which costs around $30 billion annually due to limited local refining capacity. The initiative aims to support African and Caribbean oil buyers in sourcing refined products while promoting regional refining development. This revolving facility is expected to finance between $10 billion and $14 billion in intra-African petroleum imports over time. It aligns with the

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International News Renewable Energy

ACO, Sungrow, and Tongwei Partner for 75 MW Solar Projects to Support Egypt’s Vision 2030

Arab Consulting Office (ACO) has partnered with global tech leaders Sungrow and Tongwei to sign a framework agreement with IRSC for the development of 75 MW of solar projects across Egypt. This collaboration establishes a long-term partnership, leveraging Tongwei’s high-efficiency PV modules and Sungrow’s advanced inverters and energy storage systems. The solar projects are set to boost Egypt’s renewable energy capacity, aligning with the country’s Vision 2030 targets. This initiative also serves as a model

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Gas International

Namibia Targets 2.5 Million Tons in Annual Gas Production

Namcor has announced that Namibia could produce more than 2.5 million tons of natural gas annually, based on recent discoveries and early-stage assessments from 2022 to the present. At the Namibia International Energy Conference held in Windhoek on Thursday, April 24, 2025, Mtundeni Ndafyaalako, Namcor’s Executive of Upstream Development and Production, shared this projection during a session titled Monetizing Natural Gas: Lessons, Solutions, and Infrastructure. The session was moderated by Francisco Simao, Legal & Corporate

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International Corporate News Oil

Chevron Eyes Walvis Basin Drilling as Namibia Emerges as Oil Exploration Hotspot

Chevron announced Thursday that it is considering drilling an exploration well in Namibia’s Walvis Basin, with operations potentially beginning as early as 2026 or 2027. The U.S. energy giant stated it is advancing its offshore exploration portfolio in Namibia—a region that has rapidly gained attention as a global exploration hotspot. The proposed well will be located in Petroleum Exploration License (PEL) 82 in the Walvis Basin, situated north of the Orange Basin, where companies like

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International Gold Mining Projects

Burkina Faso Grants Nordgold License for New Gold Project Amid Shifting Alliances

Burkina Faso’s military-led government has granted an industrial mining license to Russian company Nordgold for the development of a new gold project. The move comes as the West African nation seeks to capitalize on record-high gold prices to strengthen an economy battered by ongoing insecurity, according to Reuters. Last year, Burkina Faso reaffirmed its commitment to deepening ties with Russia, emphasizing that the partnership extends beyond military cooperation. This latest development highlights the country’s growing

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International Gas News

U.S. Shows Interest in Nigeria-Morocco Gas Pipeline Amid Growing Competition with China

The United States has expressed interest in investing in Africa’s most ambitious gas pipeline project, which aims to connect Nigeria to Morocco. Nigeria’s Finance Minister, Wale Edun, revealed the U.S. interest, highlighting the potential for American involvement in the project. . According to The Cable, Minister Edun disclosed this development in a statement summarizing outcomes from the ministry’s bilateral engagements during the 2025 Spring Meetings of the International Monetary Fund (IMF) and the World Bank

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Corporate News International Oil

TotalEnergies Reaffirms Commitment to Namibia’s Emerging Oil Sector

Patrick Pouyanné, Chief Executive Officer of TotalEnergies, paid a courtesy visit to Namibian President Netumbo Nandi-Ndaitwah in Windhoek on Friday, reaffirming the company’s commitment to exploring and investing in Namibia’s growing oil sector. During the meeting, President Nandi-Ndaitwah expressed optimism about recent offshore oil discoveries, describing them as timely and significant for Namibia’s economic future. Pouyanné highlighted that TotalEnergies’ strong interest in Namibia is driven by the country’s stable and investor-friendly environment. The visit follows

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International News Oil

Zambia’s Energy Ministry Opens Bidding for Tazama Pipeline Access

The Ministry of Energy has officially opened the bidding process for oil marketing companies (OMCs) seeking access to the Tazama pipeline. This follows the successful completion of a review of the guidelines governing the Tazama Pipeline Open Access Framework. According to Principal Public Relations Officer Bob Sianjalika, both local and foreign OMCs are now invited to submit their bids for the use of the pipeline to transport diesel from Dar es Salaam to Zambia. The

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Corporate News International Oil

TotalEnergies Commits $500 Million to Boost Production at Congo’s Moho Nord Field

French oil major TotalEnergies has announced a $500 million investment to enhance exploration and production activities at the Moho Nord offshore field in the Republic of Congo. CEO Patrick Pouyanné made the commitment earlier this week during a meeting with Congolese President Denis Sassou Nguesso in Oyo, where they discussed the company’s current operations and future investment plans. TotalEnergies aims to increase Moho Nord’s output by 40,000 barrels per day (bpd), further solidifying its position

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Diamonds International News

Vast Resources Announces Release of Historic Diamond Parcel Held by Reserve Bank of Zimbabwe

Aim-listed Vast Resources has announced the release of a historic diamond parcel that had been held in safekeeping at the Reserve Bank of Zimbabwe by order of the country’s Supreme Court since early 2010. The diamonds are now under the company’s custody and have been sent to its nominated tender house in Dubai for cleaning and re-sorting, ahead of the sales process, which is expected to commence within a month. Upon completion of the sale,

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